- Yi: +13.85
- A possible bottom forming here for: LPL
- Trying to bottom out in this area: BABA and $PLAT
- At the average oversold level: CSL and RSX
- Trying to hold rising trend line support: HPE
- Attempting to hold the 28 DMA: BR and $UST3M
- Now up against the 28 DMA: CNK
- Up against falling trend line resistance: JACK
- Up against rising trend line resistance: BKS
- Moderately overbought: SHAK
- Extremely overbought: MED
- Getting toppy: ANF and UL
- A break out up or down is in the way for: $DJGSP, DUSY, $GASO, GDX, LM, NUGT, UNG, $XAU
- Anything posted here may be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
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